Plans to Increase Power Tariffs Suspended
The energy regulator (ERC) has stated that Kenya Power’s application for a 25 per cent increase in power tariffs, which would result in higher electricity bills, remain suspended as ERC awaits the findings of an independent study it has launched to determine the actual cost of providing power…
Stocks Watch
At today’s trading at the Nairobi Securities Exchange, we will be closely observing the following share counters: NIC Bank – Last week the bank received a green light from the Capital Markets Authority (CMA) to conduct a rights issue scheduled to begin in August this year…
8 Things You Should Know This Morning
A couple of things you are waking up to this morning: 1. In what seems to be a deal gone sour, a section of members of parliament have threatened to reintroduce a law seeking to control bank interest rates. Daily Nation 2. Reprieve for consumers as ERC…
First Independent KPRL Deal Promises Cheaper Fuel Rates
Consumers can breathe a sigh of relief as Kenya Petroleum Refineries Ltd (KPRL) moves to reduce its operational cost. The refiner had been at the mercy of Oil Marketing Companies (OMCs) because previous legislation did not allow it to import its own crude oil. A new system has now been…
40% of Kenyans Would Prefer not to Take Loans
The latest poll by Infotrak in conjunction with Consumer Federation of Kenya revealed that out of 1,000 respondents, 60 per cent would consider taking a loan with exist commercial banks while the remaining 40 per wouldn’t. 58 per cent feel that commercial banks do…
Closing Bell – 23 July 2012
At today’s NSE trading, the NSE 20-Share Index closed up 0.11 percent at 3,844.61 points up from 3,840.36 points last week while the NSE All-Share Index closed up 0.37 percent gaining 0.31 points to close at 83.85 points from 83.54 points at the close of trading last week.
Religion, Opium of the Masses
Apostle Michael Njoroge of the “fake miracles” saga has been a burning topic of discussion on social media this past weekend. This is not the first time churches have been put on the spot for exploiting the masses. The discussion dates back to colonial Africa and the introduction…
Full Steam Ahead for Geothermal Project in Kenya
President Mwai Kibaki presided over the ground breaking ceremony for the construction of Olkaria IV. It will comprise of 2 plants with each plant having two units and generating 140Megawatts. Other plants on the complex will be generating 150Megawatts by mid-2014. The project is an extension of Olkaria I and…
Safaricom Launches Wakenya Tuongee Promotion
Mobile operator Safaricom has introduced a new promotion that will see customers enjoy discounts of up to 75 per cent on on-net calls. The promotion dubbed Wakenya Tuongee, comes at a time when Safaricom is facing stiff competition from rival operators and the company says it wants…
Kenya to Benefit from Sale of Gold Assets
African Barrick Gold (ABG), Tanzania’s largest gold producing company today agreed to buy Kenyan gold assets worth USD20 million from the Aviva Corporation. The move is pending approval from the Competition Authority of Kenya (CAK) which will help the government decide just how much the country can earn…
Angukia Hao Second Draw
“Angukia Hao na Ecobank,” a deposit mobilization campaign targeting existing and prospective Ecobank Savings and Current account holders, is now in its’ second round. Ecobank will on Tuesday, 24th July 2012 conduct the 2nd draw winners’ awarding ceremony at the Ecobank Towers. The promotion started on…
Mitumba Traders Demonstrate
If you missed your usual Mitumba seller an hour ago odds are he or she was demonstrating outside treasury because of non-implementation of the tax reduction on mitumba. The 2012/2013 budget had proposed that duty on second hand clothes be revert back to KES 1.1 million,…
Safaricom & KCB Shares Thrive on the NSE’s Good Run
The share counters of industry leaders Safaricom and Kenya Commercial Bank (KCB) last week showed sharp gains in performance at the Nairobi Securities Exchange, thriving in the wake of more interest and investment in blue-chip counters in the Kenyan stock market. Last…
Government Signs Deal For Solar, Diesel Power Generation Plants
The government of Kenya on Saturday signed agreements with Chinese firms for development of new power production plants in Kenya. The agreements signed in Nanchang, China include a Memorandum of Understanding (MoU) with China Jiangxi Corporation for International…
China Loans Kenya 6.1B for Fibre Optic Development
The Chinese Government has extended a concessional loan to Kenya of USD 72 million (KES 6.12billion) for the National Optic Fibre Backbone Infrastructure Project and E-Government. This project is aimed at linking most urban areas of Kenya to the global fibre optic network through the Capital Nairobi. The agreement…
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